IRAS Questions remain for landlords with new law to help SMEs with rent
I appreciate the Government's good intentions in passing a law to help pandemic-hit small and medium-sized enterprises (SMEs) cope with issues of rent (Law passed to help pandemic-hit SMEs cope with rent obligations, June 6).

Law Minister K. Shanmugam made it clear that "the Bill does not require cash to move from the Government to the property owner to the actual tenant or sub-tenant". "What it does is put in place a framework of rental waivers mandated by law".

Under the legislation, SMEs that have suffered a 35 per cent or more year-on-year drop in average monthly revenue in April and last month are eligible.

Who will be validating the year-on-year revenue statements of eligible SMEs for landlords? And will the Inland Revenue Authority of Singapore be recalculating property tax with a lower annual value of properties - since landlords will be receiving less rental income - and giving tax rebates to landlords?

Cheong Wing Kiat

Source: https://www.straitstimes.com/forum/forum-questions-remain-for-landlords-with-new-law-to-help-smes-with-rent

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